Hungarian minimum wages to rise significantly

Hungarian minimum wages will rise significantly from January, daily Magyar Idők reported based on leaked information.

Hungarian minimum wages will rise next year to a gross HUF 150,00 per month (US$525) for unskilled workers and HUF 200,000 (US$700) for skilled labor, Magyar Idők reports. The daily said the figures were based on a recent agreement between the government, employers and employees.

Magyar Idők said that with this increase the Hungarian minimum wage will have been doubled from the level it stood at during the last Socialist government in 2009. It also said that the minimum wage for unskilled labor - which now stands at HUF 138,000 is probably of little relevance, since the overwhelming majority of employees who are registered by their employers at this level receive in fact significantly more.

The increase in skilled labor minimum wage to HUF 200,000 is more significant both in it being closer to actual wage levels and due to the fact that it is 230 percent higher than during the last Socialist government.

As usual, these minimum wage increases will also have a ripple effect on higher wages, as employers will have to increase those proportionally in order to avoid tensions in the wage structure.

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